Nationwide Consumer Reporting Agencies
The three nationwide consumer credit reporting agencies, also called credit bureaus, are Equifax, Experian and TransUnion. They compile credit histories on consumers. Your credit history contains information from financial institutions, utilities, landlords, insurers, and others. The credit bureaus provide information on you to potential credit granters, insurers, landlords, and employers. You have the right to get a free copy of your credit history in several situations:
You also have the right to a free copy of your report from each of the credit bureaus every year.
Will Checking Your Credit Score Affect It
There are 2 main types of checks that can occur when lenders pull your credit: soft check and hard check.
A hard check is made by lenders who want to get a full idea of your creditworthiness in order to approve or disapprove your application for credit. Hard checks impact your credit score negatively.
Soft checks occur when a lender pulls your credit just to get a background on you. For instance, during a mortgage pre-approval, or if your bank wants to pre-approve you for a credit card offer. Checking your own credit score is also considered a soft check, and it does not impact your score.
Request Your Free Medical History Report
You have the right to get one free copy of your medical history report, also known as your MIB consumer file, each year. You can request a copy for:
- Yourself
- Someone else, as a legal guardian
- Someone else, as an agent under power of attorney
You can request a medical history report online from MIB or by phone at 1-866-692-6901.
Not everyone has a medical history report. Even if you currently have an insurance plan, you won’t have a report if:
- You haven’t applied for insurance within the last seven years
- Your insurance policy is through a group or employer policy
- The insurance company isnt a member of MIB
- You didnt give an insurer permission to submit your medical reports to MIB
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Free Annual Credit Report
Review your credit report often to make sure the information is accurate.;If you see something on your report that you didnt do, it could mean youre the victim of identity theft.
You can get one free credit report each year from each of the three nationwide credit bureaus. The website annualcreditreport.com is your portal to your free reports.
Note: when you leave that website and move to the company website to get your free report, the company will probably try to get you to sign up for costly and unnecessary credit monitoring services.
You can also get your credit reports by phone by calling 1-877-322-8228. Under North Carolina law, credit monitoring services are required to tell you how you can get credit reports for free.
To keep track of your credit during the year, request a free report from a different credit bureau every four months. You can also pay for additional copies of your credit report at any time.
*warnings When Ordering Online:
Misspelling the annualcreditreport.com site or using another site with similar words will take you to a site that will try to sell you something or collect your personal information. Even one mistyped letter could take you to a fraudulent website that looks and feels like a place to order credit reports but in fact has been set up by ID thieves to steal your information. Other sites with similar names exist and may try to sell you credit monitoring services.
Remember, only one website is authorized to fill orders for the free annual credit report you are entitled to under lawannualcreditreport.com. Other websites that claim to offer free credit report,, free credit scores, or free credit monitoring are not part of the legally mandated free annual credit report program.
Beware of emails, banner ads, pop-up ads, and telemarketing calls that promise to obtain your free annual credit report on your behalf. In particular, beware of email messages or internet ads claiming to be from annualcreditreport.com.
Also beware of any free offers for your credit score. One wrong click on an enticing ad for a free look at your credit score may have you signed up for costly or unnecessary credit monitoring or sharing your personal information with a thief.
Annualcreditreport.com will not send you an email asking for your personal information; do not reply or click on any link in the message. Its likely a scam, leading to potential ID theft. .
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When Will My Report Arrive
Depending on how you ordered it, you can get it right away or within 15 days.
- Online at AnnualCreditReport.com youll get access immediately.
- using the Annual Credit Report Request Form; itll be processed and mailed to you within 15 days of receipt of your request.
It may take longer to get your report if the credit bureau needs more information to verify your identity.
Read Your Reports And Fix Errors
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Accounts that arent yours or you didnt authorize.
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Incorrect, negative information.
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Negative information thats too old to be included. Most negative information, other than one type of bankruptcy, should be excluded after seven years.
These errors have the potential to hurt your credit score, says Chi Chi Wu, a staff attorney with the National Consumer Law Center. You might see other types of errors, such as out-of-date employment information, she says, but those arent factored into your score.
If you find errors, dispute them. The credit bureaus will investigate and must remove information that they cant verify.
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What Information Do I Have To Give
To keep your account and information secure, the credit bureaus have a process to verify your identity. Be prepared to give your name, address, Social Security number, and date of birth. If youve moved in the last two years, you may have to give your previous address. Theyll ask you some questions that only you would know, like the amount of your monthly mortgage payment. You must answer these questions for each credit bureau, even if youre asking for your credit reports from each credit bureau at the same time. Each credit bureau may ask you for different information because the information each has in your file may come from different sources.
Your Childs Credit Report
Parents can place a Protected Consumer security freeze on their childs credit reports to help prevent identity theft. Check a childs credit report before they turn 16.
Youll need to provide the following:
- childs full name
- copy of social security card
- addresses for the past two years
- copy of the parents drivers license
- copy of proof of residence for the parent, such as a utility bill
- guardians should include guardianship papers
Send or submit the information to each of the three major credit reporting bureaus.
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How Much Are Your Fees
If you win your credit reporting lawsuit, the other side must pay your attorney’s fees. This means that the credit bureaus that withheld your credit report must pay your lawyer to help fix the problem.; Lyngklip & Associates, only charges consumers if we are able to recover for them, and our fees are paid for out of the recovery.; Consumers never pay up front fees and there is no charge for your initial consultation.; Call 400-CREDIT | 400-2733. today review your case or contact us through this site for a call back.
Cnbc Select Reviews Credit Report Basics And How You Can Get A Free Credit Report So You Can Start Monitoring Your Credit Now
Selects editorial team works independently to review financial products and write articles we think our readers will find useful. We may receive a commission when you click on links for products from our affiliate partners.
Monitoring your credit report is a smart and simple way to be proactive about your finances. Checking your credit report regularly can help you spot fraud early and ensure the correct information is reported to the credit bureaus. There are many resources available so you can get a free credit report as often as once a month.
Below, CNBC Select reviews credit report basics and different ways you can get a free credit report, so you can start monitoring your credit now.
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Obtain Your Credit Report
OBTAIN YOUR CREDIT REPORT
The Fair Credit Reporting Act requires each of the nationwide credit reporting companies Equifax, Experian, and Transunion to provide you with a free copy of your credit report, at your request, once every 12 months. The three nationwide credit reporting companies have set up a central website, a toll-free telephone number, and a mailing address through which you can order your free annual report.
To order your report, you can:1. Visit annualcreditreport.com, or2. Call 1-877-322-8228, or3. Complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P. O. Box 105281, Atlanta, GA 30348-5281.
The information above is provided in summary. For complete details, please refer to the Federal Trade Commissions consumer information on Free Credit Reports.
A Warning About Imposter WebsitesOnly one website is authorized to fill orders for the free annual credit report you are entitled to under the law annualcreditreport.com. Other websites that claim to offer free credit reports or free credit monitoring are not part of the legally-mandated, free annual credit report program.
What To Do About Inaccurate Information
- Clearly identify the inaccurate information on your credit report and dispute it, in writing, to both the credit reporting agency that issued the report with inaccurate information and any creditors associated with the information.
- For more information, review the FTCs online Disputing Errors on Credit Reports article.
- If an investigation doesnt resolve your dispute with the credit reporting company, you can ask that a statement of the dispute be included in your file and future reports. If inaccurate information is not removed or reappears, you may wish to consult with a private attorney regarding possible legal actions.
Here is contact information for the three credit reporting agencies and links to their web pages informing consumers how to dispute inaccurate information:
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What Is Credit Monitoring
Canadas credit bureaus, as well as many credit card issuers and financial institutions, offer credit monitoring services.;These services provide you with a notification after certain updates to your credit file, such as a credit inquiry.
You could consider using this service if you think youve been the victim of fraud or if you have been affected by a data breach. This can help you see if somebody is trying to apply for credit in your name.
You usually need to pay for these services.
Are There Other Ways I Can Get A Free Report
Under federal law, youre entitled to a free report if a company denies your application for credit, insurance, or employment. Thats known as an adverse action. You must ask for your report within 60 days of getting notice of the action. The notice will give you the name, address, and phone number of the credit bureau, and you can request your free report from them.
- youre out of work and plan to look for a job within 60 days
- youre on public assistance, like welfare
- your report is inaccurate because of identity theft or another fraud
- you have a fraud alert in your credit file
Outside of these free reports, a credit bureau may charge you a reasonable amount for another copy of your report within a 12-month period.;
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What Should I Look For In My Credit Report
When reviewing your credit report, check that all the information listed is up-to-date and accurate. Heres a brief breakdown on the kinds of things to verify within each credit report:
- Personal Information: Social Security number, name and address
- Inquiries: everyone who has reviewed your credit report in the past 2 years
- Public Records: bankruptcies, which can stay on a credit report for up to 10 years
You Have More Than One Credit Report
When you order your free TransUnion credit report, youll also have the option to order your free Equifax and Experian credit reports. The information in these reports can differ, so its good practice to review all three. For example, some lenders choose to report account data to only one or two credit reporting agencies, not all three. Or, when you apply for a loan, a lender may only pull your credit report from one credit reporting agency, which would result in a hard inquiry on your credit report from that agency only.
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Order Your Free Credit Report
Consumers can get free copies of their credit report each year. The Fair Credit Reporting Act requires each of the three nationwide consumer reporting agencies Equifax, Experian, and TransUnion to provide you with a free copy of your credit report, at your request, once every 12 months.
At least once a year, review each one of your three credit reports to:
- ensure that the information is accurate and up-to-date before you apply for a loan, lease a car, get a credit card, buy insurance, or apply for a job.
- help guard against identity theft. If identity thieves use your information to open new account in your name, those unpaid accounts get reported on your credit.
To order your FREE reports:
How To Obtain Free Credit Report
Under the laws of the Fair Credit Reporting Act each of the three major credit reporting companies are required to give consumers access to obtain free credit report once every 12 months.
These reports include various information about you that the government has on file, including where you live, whether youve been sued, your credit score, how you pay your bills and several other things. In exchange for the services this company provides, they are entitled to sell your credit report to creditors, employers, insurers, and other professional organizations that need to evaluate your score.
Visiting the official website online will allow you to obtain your free credit report from each of the three reporting agencies. These reports are absolutely free every year, and you can choose to stagger when you obtain the reports or request all three at the same time. Its important to look over your credit report at least once a year in order to check for accuracy. Inaccurate information can affect your ability to get a loan as well as the amount of money youd have to pay to do so. Obtain free credit report and thoroughly review the information once a year in order to ensure the information is correct.
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Does Checking My Credit Report Hurt My Credit Score
Checking your credit report is a soft credit check so it doesn’t affect your credit score. A soft credit check occurs when you check your own credit report or a creditor or lender checks your credit for pre-approval. A hard credit check occurs when a company checks your report when you apply for a line of credit.
Annualcreditreport.com is the only website legally authorized to fill orders for your free annual credit report. Any other website claiming to offer free credit reports” could be falsely claiming to be part of the free annual credit report program. Be mindful of websites trying to trick you with subtle differences.
Other Situations Where You Are Eligible For A Free Credit Report
If you are a victim of identity theft, you are entitled to place a fraud alert on your file and to receive copies of your credit report from each of the three credit reporting companies free of charge, regardless whether you have previously ordered your free annual reports.;
For more information on ID theft, including advice for victims and tips on prevention, review the Attorney Generals Consumer Alerts: Identity Theft Prevention and Identity Theft Recovery.
If a company takes adverse action against you, such as denying an application for credit, insurance, or employment, you are entitled to a free credit report if you ask for it within 60 days of receiving notice of the adverse action. The notice will give you the name, address, and phone number of the credit reporting company to contact.
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Warning About Impostor Websites
Only one website is authorized to fill orders for the free annual credit report you are entitled to under law: AnnualCreditReport.com. Other websites that claim to offer “free credit reports,””free credit scores,” or “free credit monitoring” are not part of the legally-mandated free annual credit report program.
In some cases, the “free” product comes with strings attached. For example, some sites sign you up for a supposedly “free” service that converts to one you have to pay for after a trial period. If you don’t cancel during the trial period, you may unwittingly agree to let the company start charging fees to your credit card.
Some “impostor” sites use terms like “free report” in their names; others have URLs that purposely misspell Annualcreditreport.com in the hopes that you will mistype the name of the official site. Some of these “imposter” sites direct you to other sites that try to sell you something or collect your personal information.
Annualcreditreport.com and the nationwide credit reporting companies will not send you an email asking for your personal information. If you get an email, see a pop-up ad, or get a phone call from someone claiming to be from Annualcreditreport.com or any of the three nationwide credit reporting companies, do not reply or click on any link in the message. It’s probably a scam. Ensure you are on the right website by verifying through the Consumer Financial Protection Bureau .